Town Supervisor Patrick Tyksinski, CPA, would like us to believe that the 2016 financial audit prepared by D'Arcangelo & Co. is a "draft" that he "believes is the property of the accounting firm" even though the field work was completed by D"Arcangelo at the end of February which is exactly within the 60 days from the end of the fiscal year that is allowed under General Municipal Law for a town audit to be completed.
Once again, Supervisor...nice try, but I'm not buying it.
You see, periodically, I read the New Hartford Public Library minutes. Last night, I decided to see if new minutes were posted and sure enough the April 19, 2017 minutes were available.
I find it interesting that the approved minutes of that library meeting states:
"President Mowat received a copy of our part of the Town audit today and has forwarded it to A. Burback and G. Kielar for review. A letter of engagement has been requested by the auditor but not signed. Ms. Mowat will attach an addendum to this letter documenting that we did not engage D’Archangelo to perform this audit; the Town did. The Town intends to subtract the cost of this audit from the amount we will receive on an upcoming voucher."The interesting part is that all previous Town of New Hartford audits completed by D'Arcangelo & Co. always state that the New Hartford Public Library is a component of the town:
"The financial reporting entity consists of the primary government, organizations for which the primary government is financially accountable, and other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete.So, Supervisor Tyksinski, did you want the town councilmen and taxpayers to believe that only part of the audit is a "draft that you believe is the property of D'Arcangelo"?
The accompanying financial statements present the activities of the Library. The Library is a component unit of the Town of New Hartford. The Library is financially accountable to the Town because it appoints all of the Library's Board Members, provides 80% of the funding for operations, and as needed, is responsible for approving and issuance and the payment of debt. The Library does have ownership of the real property.
The decision to include a potential component unit in the Library's reporting entity is based on several criteria including legal standing, fiscal dependency, and financial accountability."
Because when I look at the library's website, their 2015 Final Financial Statements are an exact copy of the one I have on file for the 2015 Final Town of New Hartford Financial Statements as prepared by D'Arcangelo; in other words the library audit is contained within the town audit.
How can only part of the audit be a "draft which is the property of D'Arcangelo", while other parts of the same audit are final? As a CPA, sir, is that a normal situation?
Could you explain to everyone which parts of the 2016 Financial Statements prepared by D'Arcangelo you don't like leading you to "believe" that by calling by it a "draft" the audit doesn't come under the FOI Law, therefore, preventing anyone from getting a copy?
Is it the General Fund balance that is troubling you or was there a need to reverse some previous year's transactions because they might not be in keeping with town law?
Did D'Arcangelo actually "dot all the i's and cross all the t's" this year because of the state comptrollers visit making you unhappy with the resulting financials? Taxpayers deserve answers, sir!
By the way, how do you plan to bond for $1.25 million next month when all you have to present for 2016 financials is a "draft" copy that you "believe" is the property of D'Arcangelo & Co.?
One last thing, sir!
Be sure to bring that transaction mentioned in the library minutes before the town board for approval, because the 2017 budget doesn't break out an expense for the audit of the New Hartford Public Library; that budget line is 0.
Plus, if the D'Arcangelo invoice is more that the $20,500 which was budgeted for the town audit, a transfer needs to be approved by the town board to pay the difference.
Oh, and sir, the amount you plan to charge the library should be discussed in public at the town board table before you go ahead and once again this year subtract more money from the amount that taxpayers paid to fund the library. I would think town residents would be interested to know how you are 'charging" the library to make up your deficits.